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Oil rises above $70 a barrel as shadow of trade war recedes

LONDON, Apr 10 (Reuters): Oil broke above $70 a barrel on Tuesday, extending strong gains from the previous day, as investors grew more optimistic that a trade dispute between the United States and China may be resolved without greater damage to the global economy.Brent crude futures were up $1.39 at...

Lufthansa cancels 800 flights on strike

FRANKFURT AM MAIN, Apr 10 (AFP): Tens of thousands of air passengers were stranded Tuesday as workers at airlines Lufthansa and Air France staged strikes that crippled traffic at several major European airports.Germany's biggest carrier Lufthansa was forced to cancel 800 out of 1,600 scheduled flights, including 58 long-haul flights.German...

China utilities plan new price index to curb volatility

BEIJING, Apr 10 (Reuters): China's major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move the power firms hope will give them more control over how much they pay for their key raw material.Huaneng is working on...

Gold steady as market wary of geopolitical rumblings

LONDON, Apr 10 (Reuters): Gold prices were steady on Tuesday but poised for gains as investors awaited potential US action against the suspected use of chemical weapons in Syria as well as more trade friction."Geopolitics is taking the main driving seat this week, so gold has potentially got some room...

Wheat retreats from near one-month high

HAMBURG, Apr 10 (Reuters): US wheat futures fell on Tuesday, retreating from Monday's near one-month high, as some traders regarded the market had over-reacted to fears of cold weather stressing US crops.Traders were positioning ahead of world supply and demand estimates later on Tuesday from the US Department of Agriculture...

Total CEO confirms plan to enlarge JV with Saudi Aramco

PARIS, Apr 10 (Reuters): The chief executive of Total SA on Tuesday confirmed the French oil major intends to enlarge its refinery joint venture with state oil giant Saudi Aramco."We are planning to enlarge our joint venture with Saudi Aramco. We have a very big refinery there and the next...